Safeguarding India’s Digital Economy:
The Indian digital economy is in the spotlight after a sharp rise in sophisticated cyber frauds such as phishing, UPI/OTP scams, identity theft, and digital arrests.
- Over 13.9 lakh cybercrime cases were reported in India in 2023 (NCRB), but experts estimate many go unreported due to stigma or distrust in institutions.
- Social engineering is at the core—fear, greed, urgency—exploited via phishing, OTP/UPI frauds, loan/job scams, remote access malware, and fake government impersonations.
- Elderly and rural citizens: digitally illiterate yet financially vulnerable.
- Banks: often issue generic advisories, fail to detect abnormal transactions, and allow mule accounts with weak KYC.
- Cyber police: lack manpower, training, and AI-driven tools, reducing their effectiveness.
Constitutional and Institutional Dimensions:
- Right to Privacy (Justice K.S. Puttaswamy vs Union of India, 2017): Citizens’ personal and financial data must be protected as a fundamental right under Article 21.
- Article 300A: Protects property; digital financial frauds threaten citizens’ legitimate wealth.
- RBI Regulations: Banks are mandated to provide zero liability protection for victims in certain categories of digital fraud.
- CERT-In: Nodal agency under the IT Act for cybersecurity incidents, but lacks proactive capacity for retail-level fraud detection.
